Clemente Co. owned all of the voting common stock of Snider Co. On January 2, 2011, Clemente sold some equipment to Snider for $125,000. The equipment had a cost of $140,000. At the time of the sale, the balance in accumulated depreciation was $40,000. The equipment had a remaining useful life of five years and a $0 salvage value. Straight line depreciation is used by both Clement and Snider. At what amount should the equipment (net of any depreciation) be included on the consolidated balance sheet dated 12/31/2011?
| A. $100,000 | |
| B. $95,000 | |
| C. $85,000 | |
| D. $80,000 | |
| E. $75,000 |